New York brothers Jojo and Nicky Scarlotta share how they became famous on TikTok after sharing relevant videos about inflation.
A new report shows consumers are trying different strategies to stretch their grocery budget as prices continue to rise at grocery stores and restaurants across the country.
Inflation may be starting to cool since hitting record highs in 2022, but the average American is still spending far more money on everyday necessities than they did a year ago.
According to the Bureau of Labor Statistics, consumer prices rose 3.1 percent from January 2023 to January 2024. The typical U.S. household had to pay $213 more per month in January to buy the same goods and services as a year ago, according to calculations by Mark Zandi, chief economist at Moody's Analytics.
Hundreds of Wall Street Journal readers shared how they've changed their spending and eating habits to “cope” with the high food costs weighing on their pocketbooks, including cutting out certain foods, planning meals and harvesting their own food.
PA FOOD SUPPLIER WARNS THAT AMERICANS HESSED BY INFLATION WILL BECOME 'RESISTANT' TO HIGHER PRICES
The average U.S. household paid over $200 more per month in January 2024 for the same goods and services as a year ago. ((Photo by FREDERIC J. BROWN/AFP via Getty Images) / Getty Images)
Sarah Smith, 54, told how she and her husband swapped their elaborate home-cooked meals using fresh herbs and premium ingredients for simpler canned dishes to cut costs.
The Las Vegas marketing professional said that these days, for example, she often makes tuna pasta casserole instead of chicken cacciatore.
“It’s not healthy, but it’s food,” she said.
Alexandra Blom and her husband Jason from Chicago began changing their spending habits after analyzing different prices at grocery stores. The 43-year-old massage therapist revealed she is now buying more in bulk and buying less organic produce and locally sourced meat and eggs for her family of four. Her family is now limiting their food intake, eating simpler meals of lentils, beans and rice that can span several days.
Nancy Randall shared how her family managed to reduce their spending per person by 30% to stay within their budget. The 56-year-old retired nutritionist from Houston used to make charcuterie boards but now forgoes the cheese rack when grocery shopping. These days, her family relies more on eating the deer they hunt and the fish they catch than buying meat at the grocery store.
High inflation is still weighing on Americans' households
Readers told the WSJ how they tried to save money on their grocery budget. ((Photo by Spencer Platt/Getty Images) / Getty Images)
Bernard Brothman, a 67-year-old retired human resources manager from New Jersey, is also trying to rely on his home-grown food to spend less at the supermarket. He has saved hundreds of dollars on grocery bills by growing more than a dozen crops in a community garden and in a garden at his son's home nearby, the WSJ reported.
Now he also teaches his grandchildren how to grow their own vegetables.
Like other readers, Brothman tries to extend meals by cooking in bulk and freezing meat when it's on sale.
Kathleen Glindmeier, a 69-year-old registered dietitian from Phoenix, says she plans her grocery shopping trips around the time her local grocery store hosts its monthly senior discount day. Your friend group has swapped eating out at restaurants for hosting potlucks at each other's homes.
“We’re just getting more creative,” Glindmeier told the Wall Street Journal.
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Americans continue to pay An average of $605 more per month compared to the same time two years ago and $1,019 more compared to three years ago, before the inflation crisis began.
Earlier this month, President Biden took aim at grocery stores, accusing them of “ripping people off” with high prices as inflation blame continues.
FOX Business' Megan Henney contributed to this report.